The United States has said that high profile corruption in government and business circles are major impediments to inflows of American investments into Nigeria.
Noting that the US is the largest source of Foreign Direct Investment in Nigeria, with a total stock valued at $8.2bn as at 2012, the American Department of Commerce said cases of corruption could discourage further investments.
US Secretary of Commerce, Penny Pritzker, stated that the Federal Government should take “tough steps” to “root out corruption” with a view to supporting American companies’ ability to do good business in Nigeria.
Pritzker, who led a team of 20 American companies on an energy business development trade mission to Nigeria, spoke in Lagos on Wednesday.
According to her, the US government and American investors are willing and eager to forge stronger partnerships in Nigeria as business opportunities are abundant in the country.
Pritzker said there was a need for the Federal Government to ensure that anti-corruption laws were “enforced predictably and reliably” with a view to spurring more US FDI for the benefit of Nigerians and the American people.
She noted that many American businesses were willing to invest in agriculture, health care, transportation, tourism, information and communications technology and manufacturing. She, however, added that many of them sought conditions that would enable them to operate free from unnecessary regulation, government interference and corruption.
The US Commerce Secretary said, “For US businesses to come here, stay here, and help you achieve your full potential, Nigeria needs to take the tough steps that allow businesses to truly thrive.
“Our companies want to do business in countries that follow the rule of law, maintain ethical standards, abide by workplace safety, encourage workforce training, and protect intellectual property.
“Nigeria has made impressive and important progress in recent years. It has joined the Extractive Industries Transparency Initiative, and adopted new anti-corruption laws.
“We welcome these steps. At the same time, laws only operate on behalf of business and the people when they are enforced predictably and reliably.” The US cabinet member urged the Nigerian government to enlist the active participation of business and civil society organisations to effectively stamp out the menace of corruption.
Advising the Federal Government against stifling whistleblowers, Pritzker said necessary measures needed to be put in place to encourage honest citizens to alert authorities to incidence of corruption.
She argued that there was a need for Nigeria to join the World Trade Organisation’s Government Procurement Agreement, adding that local public procurement laws should be implemented according to global best practices.
“Nigeria needs the active participation of business and civil society to successfully root out corruption. Nigeria should adopt the international best practices of providing whistleblower protections. Honest citizens who are willing to alert authorities to corruption as it is taking place are your best resources in this fight.
“Such conditions that promote ease of doing businesses will open Nigeria to more investment and innovation,” Pritzker said. Click to signup for FREE news updates, latest information and hottest gists everyday
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I think is better for the Americans to just siddon and look! As for this corruption issue its too late the leaders are deeply soaked in it in fact bathing with it already ,their ears are blocked and their is no way out unless disintegration!
ReplyDeleteMark
wu is goin to do anything about
ReplyDeleteit when d fg is an embodiment of corruption.
The truth must prevail under any circumstances. Both the Federal, States and local Governments must come out openly to fight corruptions in the country. Corruptions have eaten deeply into our systems. It is only God Almighty that can expel it from our ways of life. The average Nigerians are aware of the sources of corruptions but they pretend they do not know! By the way, the activities of SECRET SOCIETIES in the country have been kept under carpet. We all know that they control the larger part of corruptions in the country. Research has shown that to get top government jobs, or political offices, you must be recognized and sponsored by one or two of these SECRET SOCIETIES. My prayer to these selfish, self centered members of these secret societies is that they must learn to have the fear of God in their hearts. God is giving me a revelation as I am releasing this report that he would visit their activities very soon and destroy them completely as His innocent people are suffering from their dubious activities. Their roles in ruining the economy of the country is unacceptable and must stop forthwith. Let members of these SECRET SOCIETIES know that the amalgamation of Nigeria by the British in 1917 was instrumental by Him in order to fully liberate the BLACK RACE the world over. Let no man born of a woman disturb the work of God Almighty. I will descend my powerful hand on these evil doers, disgrace them and render them powerless and useless very soon. Enough of the rule of devil in a land of peace and tranquility created by God to liberate His people.
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